Insmed Incorporated (NASDAQ:INSM) Holdings Raised by Eventide Asset Management LLC

Eventide Asset Management LLC increased its holdings in Insmed Incorporated (NASDAQ:INSM) by 34.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 906,395 shares of the biopharmaceutical company’s stock after acquiring an additional 231,210 shares during the period. Insmed comprises about 1.1% of Eventide Asset Management LLC’s holdings, making the stock its 29th largest holding. Eventide Asset Management LLC owned approximately 0.51% of Insmed worth $66,167,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its stake in Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 135 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 149 shares in the last quarter. CWM LLC lifted its stake in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 155 shares in the last quarter. Commerce Bank lifted its stake in Insmed by 2.4% in the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 163 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares in the last quarter.

Insmed Stock Performance

INSM opened at $75.88 on Friday. The stock’s 50 day moving average price is $72.18 and its two-hundred day moving average price is $67.40. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period in the prior year, the company earned ($1.10) EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. UBS Group raised their price target on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. TD Cowen raised their price target on Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Insiders Place Their Bets

In related news, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the sale, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 29.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by company insiders.

Insmed Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.